Los Angeles Capital Management LLC lifted its position in Owens Corning (NYSE:OC - Free Report) by 562.8% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 72,621 shares of the construction company's stock after purchasing an additional 61,664 shares during the quarter. Los Angeles Capital Management LLC owned 0.08% of Owens Corning worth $12,819,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also modified their holdings of the company. SG Americas Securities LLC lifted its stake in Owens Corning by 102.0% during the 2nd quarter. SG Americas Securities LLC now owns 41,525 shares of the construction company's stock valued at $7,214,000 after acquiring an additional 20,971 shares during the period. State Board of Administration of Florida Retirement System increased its position in shares of Owens Corning by 14.2% in the first quarter. State Board of Administration of Florida Retirement System now owns 112,356 shares of the construction company's stock worth $18,741,000 after acquiring an additional 14,011 shares in the last quarter. Ontario Teachers Pension Plan Board acquired a new stake in Owens Corning in the first quarter valued at approximately $997,000. Twin Tree Management LP lifted its holdings in Owens Corning by 61.8% during the 1st quarter. Twin Tree Management LP now owns 8,997 shares of the construction company's stock worth $1,501,000 after buying an additional 3,436 shares in the last quarter. Finally, CANADA LIFE ASSURANCE Co raised its stake in Owens Corning by 22.1% during the 1st quarter. CANADA LIFE ASSURANCE Co now owns 130,161 shares of the construction company's stock worth $21,710,000 after buying an additional 23,593 shares during the period. 88.40% of the stock is owned by institutional investors and hedge funds.
Analyst Ratings Changes
Several equities research analysts recently commented on the company. Royal Bank of Canada increased their price objective on Owens Corning from $213.00 to $217.00 and gave the company an "outperform" rating in a research report on Thursday, November 7th. Wells Fargo & Company lifted their target price on Owens Corning from $175.00 to $195.00 and gave the stock an "equal weight" rating in a report on Thursday, November 7th. The Goldman Sachs Group raised their target price on shares of Owens Corning from $178.00 to $198.00 and gave the stock a "neutral" rating in a report on Thursday, November 7th. UBS Group raised their price objective on shares of Owens Corning from $197.00 to $218.00 and gave the stock a "buy" rating in a research note on Thursday, November 7th. Finally, Benchmark reiterated a "hold" rating on shares of Owens Corning in a research report on Wednesday, August 7th. Seven analysts have rated the stock with a hold rating and eight have issued a buy rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $192.62.
Get Our Latest Stock Analysis on OC
Owens Corning Trading Down 1.3 %
Shares of NYSE OC traded down $2.50 during mid-day trading on Tuesday, reaching $190.96. The company had a trading volume of 291,123 shares, compared to its average volume of 681,270. The business's 50-day moving average is $176.32 and its 200-day moving average is $173.94. The company has a current ratio of 1.44, a quick ratio of 0.79 and a debt-to-equity ratio of 0.89. Owens Corning has a 52 week low of $123.10 and a 52 week high of $197.52. The stock has a market cap of $16.38 billion, a price-to-earnings ratio of 16.46, a price-to-earnings-growth ratio of 2.35 and a beta of 1.41.
Owens Corning (NYSE:OC - Get Free Report) last posted its quarterly earnings data on Wednesday, November 6th. The construction company reported $4.38 EPS for the quarter, beating the consensus estimate of $4.05 by $0.33. The business had revenue of $3.05 billion during the quarter, compared to analyst estimates of $3.04 billion. Owens Corning had a net margin of 9.92% and a return on equity of 25.82%. The business's revenue for the quarter was up 22.9% compared to the same quarter last year. During the same quarter last year, the firm posted $4.15 earnings per share. Equities analysts expect that Owens Corning will post 15.39 earnings per share for the current year.
Owens Corning Announces Dividend
The firm also recently declared a quarterly dividend, which was paid on Monday, November 4th. Shareholders of record on Friday, October 18th were given a $0.60 dividend. This represents a $2.40 annualized dividend and a yield of 1.26%. The ex-dividend date was Friday, October 18th. Owens Corning's dividend payout ratio is currently 20.43%.
Insider Activity at Owens Corning
In related news, insider Marcio A. Sandri sold 3,051 shares of Owens Corning stock in a transaction dated Thursday, September 19th. The stock was sold at an average price of $176.50, for a total transaction of $538,501.50. Following the completion of the transaction, the insider now owns 57,079 shares in the company, valued at approximately $10,074,443.50. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, insider Marcio A. Sandri sold 3,051 shares of the stock in a transaction dated Thursday, September 19th. The shares were sold at an average price of $176.50, for a total value of $538,501.50. Following the completion of the sale, the insider now owns 57,079 shares in the company, valued at $10,074,443.50. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Marcio A. Sandri sold 3,050 shares of Owens Corning stock in a transaction on Tuesday, September 17th. The stock was sold at an average price of $170.00, for a total transaction of $518,500.00. Following the sale, the insider now directly owns 60,130 shares of the company's stock, valued at $10,222,100. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.89% of the company's stock.
About Owens Corning
(
Free Report)
Owens Corning manufactures and sells building and construction materials in the United States, Europe, the Asia Pacific, and internationally. It operates in three segments: Roofing, Insulation, and Composites. The Roofing segment manufactures and sells laminate and strip asphalt roofing shingles, oxidized asphalt materials, and roofing components used in residential and commercial construction, and specialty applications.
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